In a time of economic hardship, managing your money effectively can be difficult.

High school students earn money in a variety of ways. While some have jobs, others baby-sit or get an allowance from their parents.

The way you obtain your money is usually insignificant; any route leaves you with a choice: to spend or to save? That is the question.

“I usually spend a little [money], but mostly I save it,” said Sarah Tupper, a junior.

Though the idea is rather simple, saving money can be quite a tough task when temptation strikes.

“I see things I want but can’t have because I need to save money,” Tupper said.

Though spending your hard-earned money on material items can be tempting, you may reap big benefits down the road by saving money during your teenage years.

According to economics teacher Diane Jackson, learning to save money benefits teenagers in many ways. Saving money should be a routine way of life just as spending it is.

“It’s a good habit to develop early in life,” Jackson stated in an email interview. “Saving is much like learning to eat healthy foods and exercising regularly.”

Jackson also stated that beginning to save money during your teenage years will allow more time for investments to grow.

Though many teenagers are aware of the benefits of saving money, some are still reluctant to do so.

“[Teenagers] have other interests that cost a lot of money like a car or truck or girlfriend,” Jackson stated.

  Saving money does not necessarily require you to give up your hobby of buying the most expensive jeans or your love of text messaging. There are plenty of ways to make small changes in your everyday habits that will make a difference and might pay off someday.

Whether you are saving up for that nice car or stashing away money for your college education, these tips may help you keep the cash:

?Only carry small amounts of money with you to avoid impulse buys. You cannot spend money that you do not have.

?Drive the speed limit. Not only will you be less likely to be involved in an accident, but you will also save gas.

?Only pay with bills and save your loose change. It may not seem like much, but over time that piggybank can add up.

?Take the school bus once or twice a week instead of driving to school.

?Bring your lunch from home. You will save money and won’t have to wait in those ridiculously long lunch lines.

?Save gas money and reduce pollution by carpooling with a friend.

?Wash your car yourself.

?Rent DVDs and have a movie night with your friends instead of going to the theatre.

?Do not go out to eat very often.

?Rent CDs from the library instead of buying them.

?Pay yourself first. Always put money into savings before paying your bills, even if it is only $1.

?Wait at least a week before making a major purchase. This will ensure that you are making the correct choice and the price may even go down.